<ARTICLE>                  5
       
                                                  
<PERIOD-TYPE>                                        3-MOS
<FISCAL-YEAR-END>                                    MAR-31-1998
<PERIOD-END>                                         JUN-30-1997
<CASH>                                               330,437
<SECURITIES>                                         1,388,157
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               000
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       28,549,304<F1>
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<COMMON>                                             000
<OTHER-SE>                                           28,345,462
<TOTAL-LIABILITY-AND-EQUITY>                         28,549,304<F2>
<SALES>                                              000
<TOTAL-REVENUES>                                     27,044<F3>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     106,497<F4>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   000
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (571,570)<F5>
<EPS-PRIMARY>                                        (15.50)
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in total assets is  Investments in Local Limited  Partnerships  of
$26,273,333,  Restricted cash of $509,093,  Organizational costs, net of $16,667
and Other assets of $31,617.  
<F2>Total  liability  and  equity  includes  Accounts  payable  to  affiliate of
$168,861 and Accrued expenses of $34,981.
<F3>Total revenue includes Investment of $26,319 and Other of $725.
<F4>Included  in Other  Expenses  is Asset  Management  fees,  related  party of
$49,609,  General and  administrative  of $46,904,  and  Amortization of $9,984.
<F5>Net  loss  includes  Equity  in  losses  of Local  Limited  Partnerships  of
$492,117.
</FN>